Richard Attias & Associates, the organizer of Saudi Arabia's Future Investment Initiative summit, has selected banks for its planned initial public offering. The New York-based firm, known for attracting global business leaders to Riyadh's annual investment gathering, is with its IPO plans after years of speculation about a potential listing.

The Future Investment Initiative, often dubbed "Davos in the Desert," has become a major platform for Saudi Arabia's economic diversification efforts under Vision 2030. The summit draws Wall Street executives, policymakers, and investors to discuss opportunities in the kingdom's rapidly evolving business landscape. Richard Attias & Associates has been instrumental in organizing this high-profile event since its inception.

While specific details about the IPO size and timing remain undisclosed, the selection of banks marks a significant step in the company's growth strategy. The move comes as Saudi Arabia continues to open its markets to foreign investment and seeks to position itself as a global business hub. The IPO could provide insight into the valuation of event management firms specializing in high-level international conferences and summits.